Real Estate Investment Trusts (REITs) aren't very popular with traders and other momentum investors, but so far this year, they have been on fire to the upside. Below is a list of the 40 largest REITs in the Russell 3,000 sorted by market cap. For each REIT, we provide its market cap, price, distance from its 50-day moving average, and year-to-date percentage change. As shown, the average year-to-date change for these 40 REITs is +17.41%, and many of them are up more than 20% this year. That's pretty good compared to a YTD gain of 5% for the S&P 500 and less than 2% for the Dow. REITs have seen big breakouts to the upside over the last week, pushing the average REIT in the list below up to +4.69% above its 50-day moving average. Anything more than 5% above its 50-day is pretty extended, so it's probably wise to wait for a pullback before jumping into this momentum trade.
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